Chile drops biofuels tax, allows 5% blend

17 May 2007 01:07  [Source: ICIS news]

HOUSTON (ICIS news)--Chile has removed taxes on bioethanol and biodiesel, according to a statement the country released on Wednesday.

The government will also allow biofuel blends of up to 5%, the statement said.

The announcement goes hand-in-hand with the country's Energy Security Policy, the statement said.

Under the policy, the country should reduce its dependence of fossil fuels by developing alternative sources. The policy should also stimulate agriculture and help shield Chile's economy from fluctuations in energy prices.

By: Al Greenwood
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